CBC Marketplace did an undercover investigation into buying a condo, and found that it’s rife with risk for the buyer, while the sellers completely protect themselves. You get lured in by the model condo they set up, all spacious and with stunning views and stainless steel appliances and breakfast bar and all that jazz, but contractually, there’s no guarantee that you will get that space. The contract pretty much says everything is subject to change, the floorplan included doesn’t have any measurements or square footage, and there’s clauses that say that any sales material or verbal promises made don’t count at all. One contract lawyer says that any relationship between what you’re told you’re buying and what you end up with will be a “coincidence.” Watch the video to learn more about protecting yourself from the condo bait-and-switch squeezeplay.
Buyer Beware: The Condo Squeezeplay
By consumerist.com January 11, 2008
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